Azimut announce Drilling Results on the Eleonore South JV Property, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut announce Drilling Results on the
Eleonore South JV Property, James Bay
region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Oct. 1, 2019
/CNW Telbec/ -
Azimut Exploration Inc.
("
Azimut
" or the
"
Company
") (
TSXV: AZM
) is pleased to announce the results from 26 diamond drill holes (7,365
metres) completed during the late fall 2018 and winter 2019 programs on the Eleonore South JV
Property (the "Property"), a joint venture with Newmont Goldcorp Corporation and Eastmain
Resources Inc. The JV project is located immediately south of Newmont Goldcorp's Eleonore gold
mine in the
James Bay
region of Quebec (
see Figure 1
).
Drilling focused on the Cheechoo tonalite over a 1.3-kilometre strike length, testing the southern and
western extensions of gold mineralization along the Contact Trend and
Moni Trend
.
In addition, a summer 2019 surface exploration program that began in August includes a budget for
follow-up drilling in October.
HIGHLIGHTS
(
see Figures 2 to 6
)
Hole ES19-156: 7.44 g/t Au over
9.7 m
(Contact Trend),
incl. 63.3 g/t Au over
0.8 m
Hole ES19-157: 1.02 g/t Au over
92.0 m
(Contact Trend),
incl. 7.36 g/t Au over
8.2 m
Table 1: 2018-2019 Drilling Summary
Hole
Zone
From
(m)
To
(m)
Length
(1)
(m)
Grade
(2)
Au (g/t)
Vertical
Depth
(3)
(m)
2019 Program
ES19-052-EXT
Central Tonalite
239.0
264.5
25.5
0.61
192
incl. 239
245.0
6.0
1.14
ES19-147
Central Tonalite
130.5
138.1
7.6
1.03
103
incl. 137.1
138.1
1.0
2.32
150.0
151.5
1.5
15.7
116
ES19-149
Central Tonalite
14.1
105.0
90.9
0.23
45
ES19-150
Contact Trend
11.5
29.0
17.5
0.53
15
incl. 11.5
13.6
2.1
2.50
277.5
292.0
14.5
0.45
218
ES19-152
Contact Trend
91.5
124.5
33.0
0.45
83
incl. 103.5
105.0
1.5
2.84
ES19-156
Contact Trend
140.3
150.0
9.7
7.44
111
incl. 140.3
141.1
0.8
12.2
incl. 144.7
145.5
0.8
63.2
385.5
400.5
15.0
0.84
301
incl. 394.5
396.0
1.5
4.83
ES19-157
Contact Trend
157.0
249.0
92.0
1.02
155
incl. 179
187.2
8.2
7.36
ES19-158
Contact Trend
91.5
334.0
242.5
0.25
162
incl. 211.5
229.5
18.0
0.46
incl. 255.1
275.5
20.4
0.54
2018 Program
ES18-134
Contact Trend
47.5
49.0
1.5
0.50
37
66.5
68.0
1.5
0.49
52
144.9
156.5
11.6
0.52
115
incl. 155.0
156.5
1.5
2.99
166.0
169.0
3.0
0.55
125
235.0
236.0
1
3.16
180
ES18-135
Central Tonalite
46.3
47.1
0.8
0.84
36
75.3
76.5
1.2
0.96
58
96.1
99.0
2.9
0.77
75
178.5
183.0
4.5
0.66
138
ES18-138
Moni–101 Trend
90.1
91.5
1.4
1.36
70
297.5
299.0
1.5
1.20
228
60.0
61.5
1.5
0.89
47
ES18-139
JT Prospect
163.5
165.0
1.5
2.44
126
ES18-140
JT Prospect
57.4
57.9
0.5
28.3
44
95.8
107.7
11.9
0.43
78
incl. 104.7
107.7
3.0
0.97
ES18-141
JT Prospect
17.5
18.9
1.4
2.35
14
23.2
24.4
1.2
0.88
18
143.1
144.5
1.4
0.67
110
ES18-142
JT Prospect
16.0
17.3
1.3
0.63
13
60.0
61.5
1.5
0.73
47
72.0
73.5
1.5
0.48
56
137.0
138.5
1.5
0.53
106
162.5
164.0
1.5
0.64
125
ES18-143
Contact Trend
48.5
49.3
0.8
0.75
37
62.4
76.8
14.4
0.32
53
incl. 73.5
76.8
3.3
0.76
203.0
204.5
1.5
0.45
156
219.5
221.0
1.5
0.5
169
238.5
240.0
1.5
8.12
183
ES18-144
Moni–101 Trend
206.5
207.7
1.2
0.41
159
ES18-145
Central Tonalite
60.0
63.0
3.0
0.61
47
86.8
100.5
13.7
0.37
72
incl. 86.8
90.6
3.8
0.67
incl. 97.0
100.5
3.5
0.63
106.8
108.0
1.2
0.78
82
Notes: (1) Intervals represent core lengths. True widths have not yet been determined; (2) Assays are not capped; (3) Vertical depth is measured from surface to the mid-point of
the reported interval.
Drilling along the Contact Trend
Nine (9) holes (ES19-150 to ES19-152 and ES19-154 to ES19-159) tested the Contact Trend to
establish continuity within this area explored since 2016.
Hole ES19-156 intersected a section grading
7.44 g/t Au over
9.7 m
. Gold mineralization in this
interval is distributed in altered tonalite (12.2 g/t Au from
140.3 m
to
141.1 m
), lamprophyre (63.2 g/t
Au from
144.7 m
to
145.5 m
) and pegmatite (3.86 g/t Au from
141.1 m
to
142 m
).
Hole ES19-157 returned
1.02 g/t Au over
92.0 m
in altered tonalite cut by several units of altered
pegmatite and lamprophyre. This mineralized section includes an interval of
7.36 g/t Au
over
8.2 m
related to deformed and altered lamprophyre dykes with quartz veining. Similar intersections of
mineralized and altered tonalite intruded by pegmatites have been reported in most of the holes
drilled in this sector.
Drilling along the Central Tonalite
(area between the Moni and Contact trends)
Nine (9) holes (ES18-134, ES18-135, ES18-143, ES18-145 to ES19-149 and ES19-155) and one
(1) extension (ES19-052 EXT) tested the relatively undrilled section of the Cheechoo tonalite
between the Moni and Contact trends.
Holes ES18-143 and ES19-147 were drilled along a section northwest of hole ES18-128 to test the
extension of the Contact Trend to the north. Each hole intersected a high-grade interval at depth:
8.12 g/t Au over
1.5 m
(ES18-143), and
16.7 g/t Au over
1.5 m
(ES19-147).
Drilling along the Western Tonalite Contact and the JT Prospect
Three (3) holes (ES18-136, ES19-153 and ES19-154) tested the western extension of the Contact
Trend approximately 500 metres west of hole ES17-90 (0.5 g/t Au over
123.5 m
), the focus of
previous drilling (see press release of
December 12, 2017
). The holes encountered moderately
altered tonalite with locally strong foliation but did not intersect significant anomalous gold
mineralization.
Holes ES18-139 to ES18-142 investigated the JT Prospect about 3 kilometres west of the Contact
and Moni trends. These holes tested the Cheechoo tonalite by drilling through the JT meta-
sedimentary package in the vicinity of historical hole ES08-12 (2.15 g/t Au over
14 m
). The best
intercept is
28.3 g/t Au over
0.5 m
(ES18-140) related to a narrow sulfide vein hosted in meta-
greywacke close to a pegmatitic contact.
2019 Summer Field Program
The 2-month helicopter-supported field program was designed to develop additional intrusion-related
gold targets in the southern and central parts of the Property, and other targets related to
metavolcanics in the western part. The key elements of this program include prospecting and
mapping, as well as a soil geochemical survey (B horizon).
Table 2: Drill Hole Location Information
Target
Drill Hole*
Azimuth
Dip
Depth
UTM East
UTM North
Elevation
Contact Trend
ES18-134
320
-50
267
437333
5829454
230
Central Tonalite
ES18-135
320
-50
261
437454
5829600
229
Contact Trend
ES18-136
340
-50
351
436800
5828920
224
Moni – 101 Trend
ES18-138*
140
-50
306
437082
5829998
245
JT Prospect
ES18-139
110
-50
234
435270
5830107
232
JT Prospect
ES18-140
110
-50
201
435286
5830037
233
JT Prospect
ES18-141
110
-50
204
435249
5829973
221
JT Prospect
ES18-142
110
-50
225
435245
5829876
239
Contact Trend
ES18-143
320
-50
300
437678
5829592
232
Moni – 101 Trend
ES18-144
160
-50
300
437055
5829790
242
Central Tonalite
ES18-145
320
-50
207
437099
5829434
219
Central Tonalite
ES19-146
320
-50
248
437674
5829779
223
Central Tonalite
ES19-147
320
-50
201
437581
5829727
228
Contact Trend
ES19-148
320
-50
252
437755
5829664
226
Contact Trend
ES19-149
320
-50
321
437593
5829544
228
Contact Trend
ES19-52 ext
320
-50
159
437882
5829660
232
Contact Trend
ES18-150
320
-50
299
437958
5829726
235
Contact Trend
ES18-151
320
-50
317
438003
5829515
223
Contact Trend
ES18-152
320
-50
300
438068
5829588
226
Contact Trend
ES18-153
360
-50
300
436595
5828947
208
Contact Trend
ES18-154
320
-50
351
437084
5828852
209
Contact Trend
ES19-155
320
-50
255
436928
5829202
203
Contact Trend
ES19-156
320
-50
426
438200
5829705
231
Contact Trend
ES19-157
320
-50
306
437751
5829279
240
Contact Trend
ES19-158
320
-50
420
437554
5829171
225
Contact Trend
ES19-159
320
-50
354
437214
5829207
227
Hole ES18-137 was terminated due to misalignment.
About the Eleonore South Joint Venture Property
The Eleonore South Property is a three-way joint venture between Azimut (TSXV:AZM) (26.6%),
Eastmain Resources Inc. (TSX:ER) (36.7%) and Newmont Goldcorp Corporation (TSX:NGT;
NYSE:NEM) (36.7%). Azimut has approved the 2019 program but is not contributing to the current
phase of work; this may change in the future.
Eastmain
is the operator of the current program under
the supervision of
William McGuinty
, P.Geo.,
Eastmain's
VP Exploration, a qualified person as
defined by National Instrument 43-101. The technical information supporting this press release was
provided by
Eastmain
and reviewed by
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified person
as defined by National Instrument 43-101.
About Azimut
Azimut is a mineral exploration company whose core business is centred on target generation and
partnership development. The Company uses a pioneering approach to big data analytics (the
proprietary
AZtechMine
TM
expert system) enhanced by extensive exploration know-how. Azimut
maintains rigorous financial discipline and has 56.4 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec
. The Company's edge against
exploration risk is founded on regional-scale data analysis and multiple concurrently active projects.
This includes two regional strategic alliances with SOQUEM for six (6) gold properties in the
James
Bay
region and three (3) major gold-copper properties in the Nunavik region.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/October2019/01/c1890.html
%SEDAR: 00003284E
For further information:
Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450)
646-3045, [email protected], www.azimut-exploration.com
CO: Azimut Exploration Inc.
CNW 07:00e 01-OCT-19